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Information <br /> �i <br /> of Memorandum Memorandum <br /> cElk <br /> River <br /> TO: Mayor and City Council <br /> From: Jesse Dorn,Assistant Finance Director <br /> Date: December 17, 2018 <br /> Subject: November 2018 Monthly Financial Report <br /> This report is designed to provide summary information regarding the overall level of <br /> revenues and expenditures in the General Fund, the Ice Arena and Pinewood Golf Special <br /> Revenue Funds, and the Enterprise Funds. These funds provide an important picture of the <br /> city's financial health. <br /> For the month of November, actual revenues (excluding property taxes and transfers in) and <br /> expenditures should run about 92% of the annual budget. It is natural for some of the items <br /> to vary from month to month, such as exceeding budget for Supplies but being below budget <br /> for Services. This is not considered serious as long as the total expenditure budget amount is <br /> not overspent. Significant variances from budget are highlighted below accompanied with a <br /> general discussion for the variance. <br /> GENERAL FUND <br /> Revenues: <br /> ■ Overall general fund revenues are about 65% of budget with the second half property <br /> taxes received early in December. <br /> ■ Licenses and permits collections are slightly below budget estimates at 88%. <br /> ■ Charges for services are 96% of budget and are comprised mainly of plan review fees <br /> and police/fire service contracts. <br /> ■ Fines and forfeits collections are 78% of budget estimates,with court fine collections <br /> lagging a month. <br /> Expenditures: <br /> ■ Total departmental expenditures are 85% of budget and most departments are below <br /> budget estimates. <br /> p0WIeI1 0 <br /> NAWREJ <br />